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Finance Representative Example
Hire Purchase: Payable by 48 payments of £770.29. Payments are based on a duration of agreement of 48 months, a Cash Price OTR of £32,390 with a deposit of £3,239 leaving an amount of credit of £29,151. The agreement is calculated using a fixed rate of interest of 12.9% per year resulting in Representative 12.9% APR and a total amount payable of £40,222.92.